The IMF’s Indonesian Myths
... governments. Other multilateral agencies are aware that withholding new credits to Indonesia would only result in cashflow problems leading to increasing risk of default, which is not in their interests. ...
... governments. Other multilateral agencies are aware that withholding new credits to Indonesia would only result in cashflow problems leading to increasing risk of default, which is not in their interests. ...
Real Wages and Relative Factor Prices in the Third World 1820-1940
... addition two Mediterranean Basin countries which failed to play the globalization game, Portugal and Spain, convergence up to 1914 is faster still (the 13-country sample plotted with the squares). Meanwhile, how did Latin America do? Based on macro data reviewed by John Coatsworth (1993), it is very ...
... addition two Mediterranean Basin countries which failed to play the globalization game, Portugal and Spain, convergence up to 1914 is faster still (the 13-country sample plotted with the squares). Meanwhile, how did Latin America do? Based on macro data reviewed by John Coatsworth (1993), it is very ...
The Political Economy of Latin American Economic Growth
... Caribbean and South America, while explanations based on political instability have the challenge of accounting for the Brazilian experience, during which despite a 19th century without wars or internal disputes there was an average annualized growth rate of less than one-tenth of a percent from 182 ...
... Caribbean and South America, while explanations based on political instability have the challenge of accounting for the Brazilian experience, during which despite a 19th century without wars or internal disputes there was an average annualized growth rate of less than one-tenth of a percent from 182 ...
The Political Economy of Latin American Economic Growth
... Caribbean and South America, while explanations based on political instability have the challenge of accounting for the Brazilian experience, during which despite a 19th century without wars or internal disputes there was an average annualized growth rate of less than one-tenth of a percent from 182 ...
... Caribbean and South America, while explanations based on political instability have the challenge of accounting for the Brazilian experience, during which despite a 19th century without wars or internal disputes there was an average annualized growth rate of less than one-tenth of a percent from 182 ...
Austerity, economic growth, multipliers – and a radical solution to the
... high and contrary to what is normally expected in consolidations. A fully self-defeating dynamic would only be generated under very unlikely configurations, i.e. situations in which multipliers are very large and interest rates rise significantly (and counter-intuitively) due to the consolidation an ...
... high and contrary to what is normally expected in consolidations. A fully self-defeating dynamic would only be generated under very unlikely configurations, i.e. situations in which multipliers are very large and interest rates rise significantly (and counter-intuitively) due to the consolidation an ...
NBER WORKING PAPER SERIES ARE COUNTERCYCLICAL FISCAL POLICIES COUNTERPRODUCTIVE? David B. Gordon
... countercyclical policies dampen the cycle, the intratemporal effects must be substantially more powerful than earlier studies have claimed. We derive these findings from simple dynamic reasoning that leads to the counterproductivity of countercyclical fiscal policies and then tie that logic to U.S. d ...
... countercyclical policies dampen the cycle, the intratemporal effects must be substantially more powerful than earlier studies have claimed. We derive these findings from simple dynamic reasoning that leads to the counterproductivity of countercyclical fiscal policies and then tie that logic to U.S. d ...
Enhancing Effectiveness of Fiscal Policy
... challenge of reducing recurrent expenditures. The pressure from growing populations in the region places high demand for health, education, maintenance of infrastructures and delivery of other public services with direct implication of increasing recurrent expenditures. Structural measures designed ...
... challenge of reducing recurrent expenditures. The pressure from growing populations in the region places high demand for health, education, maintenance of infrastructures and delivery of other public services with direct implication of increasing recurrent expenditures. Structural measures designed ...
Industrial Policy and the WTO
... On the objective, many developing countries have in mind the potential for long run productivity improvements. However, in most cases industrial policy is pursued with multiple objectives including, short-term employment, increased output, better distribution and enhancing technological capacity. Th ...
... On the objective, many developing countries have in mind the potential for long run productivity improvements. However, in most cases industrial policy is pursued with multiple objectives including, short-term employment, increased output, better distribution and enhancing technological capacity. Th ...
- Munich Personal RePEc Archive
... The economic literature has stressed on the crucial role of the coordination of monetary and fiscal policies (policy mix) since the works of Tinbergen [1952] and Mundell [1962]. The recent global financial crisis has shown the limits of neoliberal ideology. As a consequence, inflation and fiscal bal ...
... The economic literature has stressed on the crucial role of the coordination of monetary and fiscal policies (policy mix) since the works of Tinbergen [1952] and Mundell [1962]. The recent global financial crisis has shown the limits of neoliberal ideology. As a consequence, inflation and fiscal bal ...
IMF Macroeconomic Impact of Fiscal Policy In This Issue
... eign bonds. Using a panel of 32 emerging market countries during 1994–2003, it finds that current expenditure–based adjustments significantly lower spreads, while fiscal adjust ments that rely mostly on tax increases and drastic cuts in public investment have no statistically significant impact on ...
... eign bonds. Using a panel of 32 emerging market countries during 1994–2003, it finds that current expenditure–based adjustments significantly lower spreads, while fiscal adjust ments that rely mostly on tax increases and drastic cuts in public investment have no statistically significant impact on ...
PRAGMATIC POLICY IN BRAZIL: THE
... This paper focuses on this gradual, piecemeal, loosely coordinated process of partial state retrenchment. The analysis focuses especially on the relative roles of ideology, policy packaging, and pragmatism in advancing reforms; how well reform implementation went; to what extent their results were a ...
... This paper focuses on this gradual, piecemeal, loosely coordinated process of partial state retrenchment. The analysis focuses especially on the relative roles of ideology, policy packaging, and pragmatism in advancing reforms; how well reform implementation went; to what extent their results were a ...
The Euro Experience: A Review of the Euro Crisis, Policy Issues
... In recent years, the EU has faced acute economic problems, somewhat linked or at least coincident with those of the United States after the Lehman collapse. The solvency of several countries that for years were presented as models of European integration success—because of their high rates of growth ...
... In recent years, the EU has faced acute economic problems, somewhat linked or at least coincident with those of the United States after the Lehman collapse. The solvency of several countries that for years were presented as models of European integration success—because of their high rates of growth ...
Euro area fiscal policies and the crisis
... • Structural fiscal adjustment should start no later than the economic recovery and be significantly higher than minimum annual fiscal effort of 0.5% of GDP. • Strong and frontloaded fiscal adjustment is needed in particular for countries with the most vulnerable fiscal positions in order to maintai ...
... • Structural fiscal adjustment should start no later than the economic recovery and be significantly higher than minimum annual fiscal effort of 0.5% of GDP. • Strong and frontloaded fiscal adjustment is needed in particular for countries with the most vulnerable fiscal positions in order to maintai ...
Macroeconomics in developing countries
... difference is embedded in differences in stylized facts about the two sets of economies: limited Iabour and unlimited capitaI in industrialized countries, as compared with limited capitaI and unlimited Iabour in developing countries. Ihis reality has, to some extent, changed over time. And the incre ...
... difference is embedded in differences in stylized facts about the two sets of economies: limited Iabour and unlimited capitaI in industrialized countries, as compared with limited capitaI and unlimited Iabour in developing countries. Ihis reality has, to some extent, changed over time. And the incre ...
Security Scenarios And The Global Economy
... • Means that with austerity policies in place contraction of economy will be deeper than anticipated ...
... • Means that with austerity policies in place contraction of economy will be deeper than anticipated ...
2. I D E nternational
... advanced and emerging economies, the divergences of growth performances persisted across countries. Among advanced economies, the US economy continued to grow robustly whereas the EU remained weak in spite of a slight recovery in the final quarter. The ongoing recession in Japan put further downward ...
... advanced and emerging economies, the divergences of growth performances persisted across countries. Among advanced economies, the US economy continued to grow robustly whereas the EU remained weak in spite of a slight recovery in the final quarter. The ongoing recession in Japan put further downward ...
International Monetary Fund (IMF) - Money Matters: The Importance
... Newland is a new country and wants to join the IMF. As a class, you will need to figure out two things: what are the obligations of Newland's new membership and what are the bene-fits Newland will enjoy as a member of the international financial community? Divide the class into two groups – GROUP A ...
... Newland is a new country and wants to join the IMF. As a class, you will need to figure out two things: what are the obligations of Newland's new membership and what are the bene-fits Newland will enjoy as a member of the international financial community? Divide the class into two groups – GROUP A ...
O Policy Forum
... of a new era of international bailouts. Today People are not required to work out their capitalism. Third, the G-7 nations should we have South Korea, Indonesia, and Thai- problems with creditors. Instead, you can develop an international bankruptcy code. land. But what about tomorrow? Will we simpl ...
... of a new era of international bailouts. Today People are not required to work out their capitalism. Third, the G-7 nations should we have South Korea, Indonesia, and Thai- problems with creditors. Instead, you can develop an international bankruptcy code. land. But what about tomorrow? Will we simpl ...
Private sector expectations for inflation and economic activity in the
... given by respondents were oil prices, which are expected to stay at a high level, and weaker world demand. The balance of risks lay on the downside and was closely related to the above mentioned factors. Regarding upward risks, forecasters cited favourable financing conditions and improvements in pr ...
... given by respondents were oil prices, which are expected to stay at a high level, and weaker world demand. The balance of risks lay on the downside and was closely related to the above mentioned factors. Regarding upward risks, forecasters cited favourable financing conditions and improvements in pr ...
Globalization and international migration: the Latin
... low-skilled, are still the rule in the developed countries. Immigration flows into Argentina (the main recipient in Latin America) resumed after the Second World War, in the mid-1940s, and lasted until the second half of the 1950s, when Europe started to grow again on a sustained basis. In Argentina ...
... low-skilled, are still the rule in the developed countries. Immigration flows into Argentina (the main recipient in Latin America) resumed after the Second World War, in the mid-1940s, and lasted until the second half of the 1950s, when Europe started to grow again on a sustained basis. In Argentina ...
The Uses of Chile How Politics Trumped Truth in the
... first generation of “models” consisted of the fast-growing economies of South Korea and Taiwan, which were held up as countries that pursued a policy of “free trade” and therefore grew faster. That these countries’ export success was achieved with major government subsidies and interventions – and t ...
... first generation of “models” consisted of the fast-growing economies of South Korea and Taiwan, which were held up as countries that pursued a policy of “free trade” and therefore grew faster. That these countries’ export success was achieved with major government subsidies and interventions – and t ...
General information - Hong Kong Institute for Monetary Research
... As the name suggests GIMF has been designed for joint monetary and fiscal policy analysis. This has involved extending the workhorse infinite-horizon (IH) model that has been developed for monetary policy analysis to allow for non-Ricardian household and firm behavior. There are two main advantages ...
... As the name suggests GIMF has been designed for joint monetary and fiscal policy analysis. This has involved extending the workhorse infinite-horizon (IH) model that has been developed for monetary policy analysis to allow for non-Ricardian household and firm behavior. There are two main advantages ...
Overview: Miracle, Crisis and Beyond
... decade. After all, the East Asia’s development experience has shown the world that growth, poverty reduction and even “graduation” 3 are possible in the developing world, provided one embraces the correct policies in an enabling international economic environment. ...
... decade. After all, the East Asia’s development experience has shown the world that growth, poverty reduction and even “graduation” 3 are possible in the developing world, provided one embraces the correct policies in an enabling international economic environment. ...
File - AIB Midwest
... World Bank, is an agency of the United Nations, whose goal is to reduce poverty through sustainable growth. Many developing countries need money to initiate programs and actions to boost their economy but are unable to get them because of their financial instability and lack of inflow. If loans are ...
... World Bank, is an agency of the United Nations, whose goal is to reduce poverty through sustainable growth. Many developing countries need money to initiate programs and actions to boost their economy but are unable to get them because of their financial instability and lack of inflow. If loans are ...
November 13, 2010 The Return to Fiscal Rectitude After the Recent
... into GDP was reached in the decade of the 1990s or around the year 2000. Fourth, and because of the above, even if the 2008-2009 crisis had never happened, many countries would have been forced (sooner or later) to adopt policies that would make their public finances sustainable. However, the longer ...
... into GDP was reached in the decade of the 1990s or around the year 2000. Fourth, and because of the above, even if the 2008-2009 crisis had never happened, many countries would have been forced (sooner or later) to adopt policies that would make their public finances sustainable. However, the longer ...